The weakening economy is having an adverse effect on students too. A new study by the global consulting company, Accenture, indicates that fresh graduates of India are concerned about the effect that the weakening economy will have on their job search. The study is based on a global survey of 286 graduate students in India and of 22,464 in eight countries reveals that out of 87 percent of university seniors from India, who have started looking for jobs, only half (51 percent) have found one yet.

Of the students under the study about 36 percent are willing to adjust their job search criteria by accepting a lower salary; 31 percent broaden their search by industry or skill area; 25 percent accept the first job offer; 25 percent look for a job in a different country; 24 percent look for a job in a different city and 24 percent compromise on job requirements.

Despite the concerns about a challenging job market, many Indian respondents said they would trade off some salary to work for a prestigious company, to have interesting work, or to get an opportunity to gain global experience.

The study also found that more Indian respondents expect to have a full-time job within three months of graduation, compared to respondents overall and over 53 percent of the India graduates graduate without any student loans. For most, loans will not exceed Rs 4 lakh.

Even though the IT sector is undergoing a decline, engineering, computers, and maths are the top subjects chosen by Indian graduates, while technology consulting, communications, or electronics are the preferred industries or sectors for work.